KUALA LUMPUR (Nov 18): Low-profile tycoon Tan Sri David Law Tien Seng, better known as TS Law, weaves a narrative that extends beyond the conventional business world.
Nearly two decades ago, facing challenges at home, the then 50-year-old sought new horizons in Australia, where he successfully built wealth through ventures into the mining business.
In fact, when Law bought into Australian iron ore miner Midwest Corp Ltd in 2003, his intention was to secure supplies of raw material for his steel-milling business.
He did not expect, five years later, that Midwest would become a takeover target of two international mining giants, namely Australia-based Murchison Metals Ltd and China’s Sinosteel group.
After a long-drawn-out shareholders’ battle in the company, Law sold his stake in the Australian mine at the peak of the commodity boom in 2008.
The deal not only earned Law a handsome profit of A$200 million (RM608.64 million), but also catapulted him to overnight fame in the Australian mining and metal industry.
Having largely been absent from the Malaysian business scene for about seven years, Law had in 2010 made a significant comeback as he repatriated his accumulated fortune and strategically reinvested in the local landscape.
This strategic move laid the foundation for a formidable business empire that now encompasses steel, mining, and property sectors.
Presently serving as the executive chairman of TS Law Group and executive deputy chairman of Main Market-listed Hiap Teck Venture Bhd, Law’s corporate journey reflects resilience, strategic foresight, and a commitment to driving success in various industries.
In an exclusive interview with The Edge at his new headquarters TSLAW Tower here, Law unveils his ambitious plans for Eastern Steel Sdn Bhd — a flat steel maker that is 27.3%-owned by Hiap Teck — as well as his property division, which will be focusing on developing its prime land in the Tun Razak Exchange and Kuchai Lama areas.
The Edge also spoke to local steel companies to discuss the two-year moratorium initiated by the Ministry of Investment, Trade and Industry effective Aug 15, which is aimed to address issues within the domestic iron and steel sector.
Get the full story in this week’s issue of The Edge Malaysia.